Bearish flag resulting in 10k Bitcoin

Bear flag:

Short term:
Bitcoin seems to have a systematic bounce from its current bottom in the 40k range, where the consolidation zone may bring k the price to the 45k range where the over-arching trendline is crossing and continuation to 49-51k.


In the short term can we see a bottomed out MACD and an bottomed out RSI with room to reach levels of 45k and 51k range.

Long term:
After re-touching 45k and 51k ranges, would the price crash downwards as buyers have taken profit at these two price ranges.

The bearish flag is formed and the the over arching trend is found once again on this down sloping trendline.

Price movers which pushes the price downwards are:
- The recession warning from Fed, impacting eg. the housing bubble
- The supply-chain crisis impacting the economy negatively, eg. the food prices negatively
- Increased oil prices
- War time

These factors in a period of economic slow down will make people less likely to invest in cryptocurrencies to keep dollar in their wallets. Here is there a negative correlation between DXY (Dollar Cost Index) and the price of Bitcoin.

These reasons may cause the price of Bitcoin to follow the bearish flag formation resulting in a strong downtrend and reaching prices of 20k and 10k.

עסקה פעילה:

Target from this bear flag formation is $10k-$12k